Barrett Jackson 914-6 |
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Barrett Jackson 914-6 |
altitude411 |
Jan 17 2017, 05:47 PM
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#1
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I drove my 6 into a tree Group: Members Posts: 1,306 Joined: 21-September 14 From: montana Member No.: 17,932 Region Association: Rocky Mountains |
Does anyone know the lot # for the 914-6's at the BJ auction in Scottsdale? TIA
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rhodyguy |
Jan 24 2017, 12:12 PM
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#2
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Chimp Sanctuary NW. Check it out. Group: Members Posts: 22,075 Joined: 2-March 03 From: Orion's Bell. The BELL! Member No.: 378 Region Association: Galt's Gulch |
it's the total of the $ you're going to be paying after the hammer drops that is a little alarming. a 10% buyers premium and you're at $99k. now the Washington state 'second sticker'. you're going to endure a 7.3-10.3% sales/use tax dependent upon where you live. not to include any other fees such as title agency, plates and yearly tabs. call it $7.2k using the lower tax rate. $106k after tax dollars. yipes.
what is the scenario with regards the IRS when $90K+ suddenly appears in some account? audit time? |
mountainroads |
Jan 25 2017, 10:20 AM
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#3
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Member Group: Members Posts: 210 Joined: 19-February 12 From: Seattle Member No.: 14,145 Region Association: Pacific Northwest |
what is the scenario with regards the IRS when $90K+ suddenly appears in some account? audit time? I'm no CPA, but I CAN speak from personal experience on this. And, in Wa State, FWIW. Sold early 911E for considerably more than I paid for it due to appreciation. My CPA said "Who the hell sells a used car for more than they paid for it?" Yes, it's reportable and a cap gains hit. I kept every receipt for expenses as deductions against the gain. Unfortunately, you can't count your own labor. Still had to pay tax on net gain (IMG:style_emoticons/default/sad.gif). There should be no issues with IRS, assuming funds are legit and traceable. Buyer pays sales tax in Wa. State at time of title transfer. That was also deductible when I bought the car, at least for me. Neither event triggered an audit. - MR |
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